We have conducted spectroscopic studies of the welding plasma formed in the process of welding with an ytterbium fiber laser delivering output power of up to 20 kW. The influence of shielding gases (Ar, He) on different parts of the welding plume is investigated. The absorption coefficient of the laser radiation by the welding-plume plasma is estimated. Scattering of 532-nm probe radiation from particles of the condensed metal vapor within the caustic of a high-power fiber laser beam is measured. Based on the obtained results, conclusions are made on the influence of the plasma formation and metal vapor condensation on the radiation of the high-power fiber laser and the stability of the welding process.